Financial Decisions
Is food a necessity or a luxury?
Necessity
Money you earn from working on a regular basis
Wage/Income
Check that gives you the money you earn by working
Paycheck
Tax money goes to...
The government
A safe place to put your money
A bank account
Delaying happiness to get a bigger reward later on
Impulse Control/Delayed Gratification
Getting paid a set amount of money per year
Salaried Work
Choosing to have your job send the money right to your bank account
Direct Deposit
One thing that taxes are used to pay for?
Any government service
Roads, schools, fire stations, police, military
Type of bank account designed for saving money
Savings Account
Is a hair stylist providing a good or a service
Service
Getting paid per hour you work
Hourly Pay
Piece of paper that tells you how much money you earned, and how much was removed
Type of tax that is taken from the money you make
Income tax?
Type of bank account designed for everyday use
What is Checking Account
Name for the fact that there are not enough supplies for everyone (Hint- it's on the enduring issues chart)
Scarcity
Getting paid extra on holidays, weekends, and other days you would prefer to have off `
Overtime
The amount of money they you earned BEFORE taxes
Gross Wages
Type of tax that is on things you buy
Sales Tax
Name one thing you need to bring with you to open a bank account
Photo ID OR Passport OR Social Security Card OR An adult OR money to deposit
A plan for spending and saving your money
Budgeting
Bi-weekly (every 2 weeks)
The amount of money you actually can spend AFTER taxes
Net Wages
Tax system where you pay more if you make more money
Progressive Taxation
Name of the group that protects money inside banks
What is FDIC